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Teknova Announces Up to $22.9 Million Concurrent Registered Direct Offering and Private Placement
HOLLISTER, Calif., Sept. 18, 2023 (GLOBE NEWSWIRE) -- Alpha Teknova, Inc. (“Teknova”) (Nasdaq: TKNO), a leading producer of critical reagents for the
About this update from Alpha Teknova, Inc.
[{"type":"text","content":"HOLLISTER, Calif., Sept. 18, 2023 (GLOBE NEWSWIRE) -- Alpha Teknova, Inc. (“Teknova”) (Nasdaq: TKNO), a leading producer of critical reagents for the research, development, and commercialization of novel therapies, vaccines, and molecular diagnostics, today announced that it has entered into definitive agreements for the issuance and sale of an aggregate of up to 1,086,485 of its shares of common stock in a registered direct offering at a purchase price of $1.85 per share. In a concurrent private placement, Teknova has also agreed to issue and sell an aggregate of up to 11,299,993 of its shares of common stock, at the same purchase price of $1.85 per share as in the registered direct offering. The registered direct offering and the private placement were priced based on the consolidated closing bid price under Nasdaq rules. The offerings are expected to close on or about September 19, 2023, subject to the satisfaction of customary closing conditions. The gross proceeds to Teknova from the concurrent offerings are expected to be up to approximately $22.915 million, before deducting offering expenses payable by Teknova. Teknova currently intends to use the net proceeds from the offerings for general corporate purposes (including for the repayment of a portion of Teknova’s outstanding debt obligations). The securities offered in the registered direct offering (but excluding the securities offered in the private placement) are being offered and sold by Teknova pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-265987), including a base prospectus, previously filed with the Securities and Exchange Commission (the “SEC”) on July 1, 2022 and declared effective by the SEC on July 12, 2022. The offering of the securities to be issued in the registered direct offering is being made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. The offer and sale of the securities in the private placement described above are being made in transactions not involving a public offering and have not been registered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended...